Bass Oil (ASX:BAS) is starting to turn its growth story into actual production.
The latest step came at Bunian in Indonesia, where field output has climbed to over 800 barrels of oil per day on a 100% basis following the commissioning of Bunian 6.
That is a big jump from around 250 bopd before the well came online.
And Bass is not done yet.
Bunian starts paying back
Bunian 6 discovered oil in the new M sand and is now producing from that zone to help define its reserves potential.
The field is targeting around 1,000 bopd once additional trucking capacity becomes available.
Bunian is no longer just a drilling result, it’s now a production and revenue story.
August already showed some of that momentum, with group sales revenue rising to A$716,009 and total production averaging 220 bopd across the portfolio.
Figure 1: Geological cross section showing the proposed Bunian 6 well location.
Vanessa opens the East Coast gas door
The next catalyst is Vanessa in the Cooper Basin.
Bass is working toward first gas sales into the East Coast Gas Market by the end of 2026, with recommissioning already underway and the pipeline integrity survey completed without identifying coating defects.
Vanessa also gives Bass access to a deeper coal gas opportunity across PEL 182, where the company cites a 2U prospective resource of 568 Bcf of gas and 22.7 million barrels of condensate.
That gives Vanessa a dual role.
Near-term gas sales first, larger appraisal upside after that.
Figure 2: The Vanessa Gas Field.
Kiwi could be the step-change
Then there is Kiwi.
The liquids-rich gas field previously tested at 4.1 million cubic feet per day alongside 988 barrels of condensate per day.
Kiwi carries over 1 million boe of 2C contingent resources, while Bass says screening economics point to an after-tax NPV above A$20M.
The company is also progressing FEED work and reviewing funding options, helped by a A$3.5M South Australian Government grant toward the pipeline project.
Figure 3: Northern Cooper Basin Triassic Gas and Oil Play – Kiwi Prospect.
The bigger gas picture is growing
Bass is also getting more out of its Triassic gas study.
Reprocessed seismic is improving the definition of Kiwi and the surrounding basement terrace, with additional structural and stratigraphic targets now emerging along trend.
That gives Bass more than one shot at building a larger gas position.
What’s next?
The near-term sequence is clear.
Keep lifting Bunian production, bring Vanessa into the East Coast Gas Market, progress Kiwi toward development, and use the Triassic study to find the next target.
Bass is starting to move from one producing asset and several concepts toward a broader oil-and-gas platform.
The barrels are already moving, the gas is next.
